The E.W. Scripps Company completed its broadcast radio exit today, closing an $8 million sale of eight stations in two markets to Jim Kalmenson’s Lotus Communications. The Lotus deal was the last of four transactions in the divestiture of Scripps’ radio division, which began in January 2018 and brought in total proceeds of $83.5 million. Scripps says net proceeds were about $55 million after taxes.

Scripps announced plans to sell off its 34 radio properties in January 2018, and focus on building its TV properties. Its AM/FM assets moved at a steady pace, with 19 stations in four markets sold to SummitMedia for $47 million; news/talk powerhouse WTMJ (620, 103.3) and country WKTI (94.5) in Milwaukee to Craig Karmazin’s Good Karma Brands for $16 million; a five station cluster in Tulsa to Oklahoma-based Griffin Communications for $12.5 million and now eight stations in Boise and Tucson to Lotus for $8 million.

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